试析美国金融危机的根源——“政府”与“市场”关系的重大失误

On the forming of American financial crisis——mistake of "government" and "market" relation

在"政府"与"市场"的关系的长期论争中,自由市场派占据上风并导致监管缺失,成为美国金融危机的根源。其主要表现为:金融监管法律放松,长期宽松的货币政策,对市场的自由放任和对金融衍生品的监管放纵,对投资银行等金融机构的监管失职等。对我国的启示:要正确认识和处理好"政府"与"市场"的关系,要审慎推动金融创新,防范金融衍生品风险,要加强对金融机构和住房抵押贷款的监管。

In the long term debate on the relations between government and market, the people who advocated free market finally prevailed and led to the lacking of financial regulation, this contributed to the outbreak of financial crisis in the U.S.The phenomenon can be mainly demonstrated as follows： loosen financial regulation laws; long term easy monetary policies; let loose of free market and financial derivatives; lack of supervising financial institutions such as investment banks; etc.What we can learn from the financial crisisis that we must correctly study and deal with the relations between government and market： prudently push ahead with financial innovation; keep a watchful eyes on the risk of financial derivatives; enhance the supervision of financial institutions and the home mortgages.